It's all legal, at least for now.  Called the StationRipper, this software can record Shoutcast radio broadcasts, and save each song an individual MP3 file. The developers that it can download 3000+ songs a day on a broadband connection. That's impressive. But, the software treads on the thin-line of claiming that recording radio stations are legal, just like TiVoing a television broadcast and that makes it's future a little debatable.

Well, download till it lasts as they say :)